Strontium Market To Reach 372.09 Kilo Ton By 2024|TMR | Page 3

Strontium Market
Increasing Use of Strontium across Novel and Traditional Applications to Boost Growth
Thanks to improved economic conditions among major nations, industries are willingly investing in
strontium carbonate. Besides novel applications, the use of strontium in traditional sectors has taken
a leap. For instance, the use of strontium carbonate in glass, ceramics, and pyrotechnics will persist,
alongside sustained demand for application in ferrite magnet. Considering this, the rising use of
pyrotechnics in myriad exhibition purposes such as flares, fireworks, crackers, and flashpapers will
deem lucrative for the market.
Firework displays are a big thing across various parts of the world. Be it during festivities,
celebrations, or New Year’s Eve, the demand for fireworks has persisted across the years. These
fireworks include bright colors with red being the dominant. Strontium compounds are used as red
colorant providers, which enables the strontium market derive prospects from rising sales of
firecrackers worldwide.
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Laws Implemented to Limit Use of Fireworks to Have Negative Impact
On the downside, stringent regulations aimed at curbing pollution may inhibit the market’s trajectory
to an extent. A major cause of smoke in pyrotechnics and firecrackers is the colorant. Since strontium
is a common compound used in them, effects of laws enforced to curb or limit their use will inevitably
percolate to the strontium market, limiting increased scope of sales. Nevertheless, the market is
witnessing immense opportunities in the rising sales of master alloys. They are increasingly employed
in plants that melt metals and alloy